The burgeoning number of mining activities is rising the sales of off-highway vehicles & commercial vehicles which would propel the demand for OTR tire. Besides this, surging private investment in infrastructure development, increasing modernization of industrial and construction vehicles by the equipment manufacturer and snowballing demand for agriculture tractors due to growth in commercial farming sector. Thus, this is anticipated to augment the growth of Brazil OTR tire market in the forecast period.

Key questions answered in the study

1. What are the current and future trends of the Off-the-road vehicle tire industry?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Off-the-road vehicle tire industry?
5. What is the customer orientation, purchase behavior, and expectations from the Off-the-road vehicle tire firms across various regions?

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According to MarkNtel Advisors’ research report “Brazil Off-the-road vehicle tire Market Analysis, 2021”, the Brazil off-the-road vehicle tire market is anticipated to grow at a CAGR of 3% during 2021-2026. Based on Type of Vehicle, Agriculture Equipment segment is growing at a robust rate in 2020. The agricultural equipment include tractor, combines, others. The launch of farm subsidy funding bill by the government arm subsidies funding bill which provide loans for agricultural machinery purchases is expected to propel the demand for OTR tires in the country. Besides this, the rising investment in commercial farming sector and proliferating government focus toward agricultural mechanization to meet the increasing food demand due to booming population are anticipated to strongly contribute toward the growth of the segment.

“Brazil off-the-road vehicle tire Market Analysis, 2021” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for OTR vehicle tire providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.

Radial Tire Exhibits Fastest Growth

The Bias tire dominated the Brazil OTR tire market. However, the radial Tire is projected to grow at a rapid rate in the Brazil OTR tire market in the forecast period. The introduction of new radial tire in different type of vehicle and increasing inclination toward radial OTR tire are positively impacting the growth of the market as stated by the MarkNtel Advisors’ research report “Brazil off-the-road vehicle tire Market Analysis, 2021”.
According to MarkNtel Advisors’, the key players with a considerable market share in the Brazil Off the Road (OTR) Tire market are Yokohama Rubber Co., Goodyear Tire and Rubber Company, Bridgestone Corporation, Continental, Michelin Tyres, Cooper Tire & Rubber Company, Triangle Group, Toyo, Trelleborg, Kumho Tire etc.

Market Segmentation:

1. By Type of Vehicle (Earth Moving Equipment [Excavator, Loaders, Grader, Bulldozer, Road Roller], Agricultural Equipment [Tractor, Combines, Others], Material Handling Equipment [Crane, Forklifts]),
2. By End-User (Construction, Industrial, Mining, Agriculture, Ports)
3. By Type of Tire (Radial, Bias)
4. By Demand Type (OEMs, Aftermarket),
5. By Price Category (Premium, Economy, Budget)
6. By Rim Size (Up to 20”, 20.1" to 26", 26.1" to 35", 35.1" to 47", Above 47"),
7. By Country (Northeast, South, Southeast, Centre-West),
8. By Company (Yokohama Rubber Co., Goodyear Tire and Rubber Company, Bridgestone Corporation, Continental, Michelin Tyres, Cooper Tire & Rubber Company, Triangle Group, Toyo, Trelleborg, Kumho Tire etc.)